If the Actual Labour Hours Worked Exceed the Standard Labour

question 178

Multiple Choice

If the actual labour hours worked exceed the standard labour hours allowed,what type of variance will occur?

• A) Favourable labour efficiency variance.
• B) Favourable labour rate variance.
• C) Unfavourable labour efficiency variance.
• D) Unfavourable labour rate variance.

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Definitions:

Invested Funds

Money or capital that has been invested in a business, project, or financial asset, often seeking to generate returns.

Annuity

A financial product that provides a series of payments made at equal intervals, which can be used as a retirement income strategy.

Interest

Interest is the cost of borrowing money, typically expressed as an annual percentage rate, or the earnings from lending money.

Investments

Assets or items acquired with the goal of generating income or appreciation, including stocks, bonds, real estate, or business ventures.